Assenagon Asset Management S.A. Acquires 1,635 Shares of Flutter Entertainment plc (NYSE:FLUT)

Assenagon Asset Management S.A. increased its position in Flutter Entertainment plc (NYSE:FLUT) by 28.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,395 shares of the company’s stock after acquiring an additional 1,635 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Flutter Entertainment were worth $1,755,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Flutter Entertainment in the 1st quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in Flutter Entertainment in the 2nd quarter worth about $37,000. CWM LLC purchased a new stake in Flutter Entertainment in the 2nd quarter worth about $40,000. Hilltop National Bank purchased a new stake in Flutter Entertainment in the 2nd quarter worth about $101,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Flutter Entertainment in the 1st quarter worth about $130,000.

Analyst Upgrades and Downgrades

FLUT has been the subject of several recent research reports. Barclays lifted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. JMP Securities lifted their target price on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $295.00 target price on shares of Flutter Entertainment in a report on Wednesday. Finally, Craig Hallum lifted their target price on Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $275.92.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $231.20 on Friday. Flutter Entertainment plc has a 12 month low of $148.00 and a 12 month high of $252.84. The business has a 50-day moving average of $226.63 and a 200-day moving average of $205.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Analysts predict that Flutter Entertainment plc will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.